Basis of Presentation and Summary of Significant Accounting Policies (Tables)
|
12 Months Ended |
Dec. 31, 2025 |
|---|
| Product Information [Line Items] |
|
| Details of Company's Subsidiaries |
|
|
|
|
Subsidiaries Name |
Place of incorporation |
Interest % |
Principal activity |
Global Crossing Airlines Holdings, Inc. |
Delaware, United States |
100% ownership by Global Crossing Airlines Group Inc. |
Holding Company |
Global Crossing Airlines, Inc |
Delaware, United States |
100% ownership by Global Crossing Airlines Holdings Inc. |
US 121 Charter Company |
GlobalX Travel Technologies, Inc |
Delaware, United States |
80% ownership by Global Crossing Airlines Holdings Inc. |
Acquire and Develop Travel Technology |
Global Crossing Airlines Operations, LLC |
Florida, United States |
100% ownership by Global Crossing Airlines Inc. |
Operating Company |
GlobalX Air Tours, LLC |
Florida, United States |
100% ownership by Global Crossing Airlines Inc. |
Air Charter Service |
Charter Air Solutions, LLC |
Montana, United States |
80% ownership by the Global Crossing Airlines Holdings Inc. |
Charter Broker |
MSN 3101 Acquisition LLC |
Delaware, United States |
100% ownership by Global Crossing Airlines Inc. |
Air Charter Operator |
|
| Summary of Activity of Allowance for Credit Losses |
The activity of allowance for credit losses for the years ended December 31, 2025 and 2024, is as follows (in thousands):
|
|
|
|
|
|
|
|
|
|
|
December 31, |
|
|
|
2025 |
|
|
2024 |
|
Balance at beginning of period |
|
$ |
580 |
|
|
$ |
95 |
|
Additions to allowance account during period |
|
|
460 |
|
|
|
482 |
|
Deductions to allowance account during period |
|
|
(250 |
) |
|
|
3 |
|
Balance at end of period |
|
$ |
790 |
|
|
$ |
580 |
|
|
| Schedule of Property And Equipment Depreciated On A Straight-line Basis To An Estimated Residual Value |
Property and equipment are recorded at cost at the acquisition date of such property or equipment and depreciated on a straight-line basis to an estimated residual value over their estimated useful lives or lease term, whichever is shorter, as follows:
|
|
|
Leasehold Improvements, Aircraft, other |
|
1-10 years (or life of lease, if shorter) |
Office and Ground Equipment |
|
5 years |
Computer Hardware and Software |
|
3-5 years |
Property and Equipment under Finance Leases |
|
5-30 years (or life of lease, if shorter) |
Rotable Parts |
|
Average remaining life of aircraft fleet, currently estimated to be 53 months |
Airframe |
|
6 years (lesser of 25 years or date until next 12Y check) |
Engines |
|
Average remaining life of aircraft fleet, currently estimated to be 43 months |
|
| Components of Property and Equipment, net |
The components of property and equipment, net are as follows (in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
December 31, 2025 |
|
|
December 31, 2024 |
|
Rotable Parts |
|
$ |
16,534 |
|
|
$ |
6,657 |
|
Engines |
|
|
12,082 |
|
|
|
- |
|
Leasehold Improvements, Aircraft, Other |
|
|
3,913 |
|
|
|
2,880 |
|
Airframe |
|
|
3,000 |
|
|
|
- |
|
Office and Ground Equipment |
|
|
1,523 |
|
|
|
1,289 |
|
Computer Hardware and Software |
|
|
1,425 |
|
|
|
1,303 |
|
Less: Accumulated Depreciation |
|
|
(4,899 |
) |
|
|
(1,821 |
) |
Total Property and Equipment, Net |
|
$ |
33,578 |
|
|
$ |
10,308 |
|
|
| Schedule of Disaggregation of Revenues |
The following table presents disaggregated revenues by service type for the years ended December 31, 2025 and 2024 (in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
For the years ended December 31, |
|
Consolidated Revenue |
|
|
2025 |
|
|
2024 |
|
Charter |
|
|
$ |
62,258 |
|
|
$ |
95,456 |
|
ACMI |
|
|
|
175,770 |
|
|
|
123,061 |
|
Other |
|
|
|
8,318 |
|
|
|
5,234 |
|
Total |
|
|
$ |
246,346 |
|
|
$ |
223,751 |
|
|
| Accounts Receivable |
|
| Product Information [Line Items] |
|
| Scheule of Percentage for Customers that Represent 10% or More of the Total |
The table below details the percentage of overall accounts receivable for customers that represented 10% or more of the total as of the end of each year:
|
|
|
|
|
|
|
|
|
|
|
% of Total Accounts receivable |
|
|
|
December 31, 2025 |
|
|
December 31, 2024 |
|
Customer A |
|
|
35 |
% |
|
|
36 |
% |
Customer B |
|
|
15 |
% |
|
|
0 |
% |
Customer C |
|
|
12 |
% |
|
|
0 |
% |
|
| Revenue |
|
| Product Information [Line Items] |
|
| Scheule of Percentage for Customers that Represent 10% or More of the Total |
The table below details the percentage of overall revenue for customers that represented 10% or more of the total as of the end of each year:
|
|
|
|
|
|
|
|
|
|
|
% of Total Consolidated Revenue |
|
|
|
For the years ended December 31, |
|
|
|
2025 |
|
|
2024 |
|
Customer A |
|
|
50 |
% |
|
|
40 |
% |
Customer B |
|
|
0 |
% |
|
|
12 |
% |
|